CI Investments Due Dilligence

By William Kemski

Joe and I travel to Toronto on an annual basis to visit with Portfolio Managers and Analysts to gain a better understanding of their mutual funds and personal views on the economic outlook. This year has been particularly busy as we have had the privilege to sit down with a number of Portfolio Managers at CI Investments, including Alfred Lam and his Analyst Marchello Holditch (CI Investment Consulting), Eric Bushell (Signature Global Asset Management) and Ryan Fitzgerald (Harbour Advisors).

Typically, most financial advisors only get access to such individuals when they present to larger groups, but we have been fortunate enough to interact and gain valuable insights on a more intimate level, with only a few other select individuals.

Will Kemski, Alfred Lam & Joe Lee-Owe

Will Kemski, Alfred Lam & Joe Lee-Owe

Recently, it seems like a new story is grabbing the headlines every day and pulling people’s attention in different directions. These meetings help us differentiate the “noise” that we are all exposed to in the media with credible data points worth discussing and looking into further. For example, if you consider Calgary’s current micro economic environment, with unemployment rates at 9.3% (as of April 2017) and rental vacancy rates at 25 year highs as of last October, it can be difficult to see the forest for the trees. Meeting with Eric, Ryan and Alfred help put grim statistics such as these into perspective and gain a better understanding about the cyclical nature of the oil and gas industry. Having regular access to these individuals provides us with some invaluable insight that allows us to better conceptually explain the current market environment in relation to a client’s portfolio.

As always, if you have specific questions relating to your individual funds or would like a better understanding, we encourage you to call and set up an appointment.